'Love for Levon' will take place on October 3 at the Izod Centre in East Rutherford, NJ to raise money for Helm's estate and his Midnight Ramble music series.
Eric Church, Gregg Allman, My Morning Jacket, Lucinda Williams and Warren Haynes join Mayer on the 'Love for Levon' line-up.
Mavis Staples, Ray LaMontagne, Bruce Hornsby and Patty Griffin will appear as well.
Legendary musician Helm died on April 19 following a 20-year battle with throat cancer.
His death drew tributes from former Band stars Garth Hudson and Robbie Robertson.
Robertson said of Helm: "Levon is one of the most extraordinarily talented people I've ever known and very much like an older brother to me. I am so grateful I got to see him one last time and will miss him and love him forever."
Helm was survived by his wife Sandy and daughter Amy.
Watch Levon Helm and John Hiatt perform 'The Weight' below: